Deep Energy Resources (BOM:532760) Momentum Rank : 6 (As of Jun. 21, 2024)

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What is Deep Energy Resources Momentum Rank?

Deep Energy Resources has the Momentum Rank of 6.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Deep Energy Resources's Momentum Rank

For the Oil & Gas Equipment & Services subindustry, Deep Energy Resources's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Deep Energy Resources's Momentum Rank Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Deep Energy Resources's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Deep Energy Resources's Momentum Rank falls into.

Deep Energy Resources Momentum Rank Related Terms

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Deep Energy Resources (BOM:532760) Business Description

Industry

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DEEPENR:India

Address

Ambli Bopal Road, 12A and 14, Abhishree Corporate Park, Ambli, Ahmedabad, GJ, IND, 380058

Website

https://www.deepindustries.com

Deep Energy Resources Ltd is a diversified oil and gas company with business interest in air and gas compression, workover, drilling, gas dehydration and oil, and gas exploration and production. It is involved in providing support activities for petroleum and natural gas mining. It is also involved in the exploration and production of coal bed methane. The company also provides high-pressure air and gas compression and gas dehydration services on a charter hire basis.

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